BTC has declined by 2.33% in the last 24 hours and during the news writing process, making it one of the day's biggest losers.
The panic selling triggered by US President Donald Trump's recession and tariff announcements may have contributed to the sharp decline in Bitcoin, Ethereum, and other cryptocurrencies. Presto Research President Peter Chung suggested that the market downturn could be driven by Trump's increased tariffs on China and recession fears. He advised investors to remain patient, emphasizing that next week's FOMC meeting could be a critical turning point for the markets.
These developments may have played a role in BTC's recent decline.
